Method, system and storage medium for facilitating multi-party transactions
OwnerRagui N. Selwanes, Nicholas J. Santoro +2inventors
InventorsRagui N. Selwanes, Nicholas J. Santoro, Joseph C. Druzolowski, Anna Mickiewicz
Life of this patent
Estimating the term…
Abstract
A method for facilitating multi-party transactions. A provider receives a provider card and the provider card is used to initialize services and to specify types of services. A member card is provided to members and used to obtain insurance information related to that member prior to a provider providing goods or services to the member. The provider card may then be used to obtain payment from the insurer. One or both of the provider card and the member card may be one of a credit card, debit card, stored value card and smart card that may be used for financial transactions as well.
Claims14
A method for processing provider transactions, the method comprising:
- an insurer providing a provider with a provider card encoded with a provider identifier;
- the insurer receiving an initialization request over an open network from a provider input device, the initialization request including the provider identifier, an input device identifier and an initialization type;
- the insurer processing the initialization request including determining if the provider identifier exists in a provider reference table and updating the provider reference table to include the input device identifier if the provider identifier exists in the provider reference table;
- the insurer charging an interchange fee to a merchant acquirer when the provider card is used for a financial transaction.
A method for processing provider transactions, the method comprising:
- an insurer providing a provider with a provider card encoded with a provider identifier;
- the insurer receiving a payment request over an open network from a provider input device, the payment request including the provider identifier, an input device identifier and a payment amount;
- the insurer processing the payment request including determining if the provider identifier exists in a provider reference table and is associated with the input device identifier;
- the insurer transmitting an exception message to the input device if the provider identifier does not exist in the provider reference table or if the provider identifier is not associated with the input device identifier;
- the insurer approving the payment request if the provider identifier exists in the provider reference table and is associated with the input device identifier;
- the insurer initiating payment to an account associated with the provider card, the provider card being at least one of a credit card, debit card, stored value card and smart card;
- the insurer charging an interchange fee to a merchant acquirer when the provider card is used for a financial transaction.
A method for processing provider transactions, the method comprising:
- an insurer providing a provider with a provider card encoded with a provider identifier;
- the insurer receiving an initialization request over an open network from a provider input device, the initialization request including the provider identifier, an input device identifier and an initialization type;
- the insurer processing the initialization request including determining if the provider identifier exists in a provider reference table and updating the provider reference table to include the input device identifier if the provider identifier exists in the provider reference table;
- the insurer transmitting an exception message to the input device if the provider identifier does not exist in the provider reference table;
- the insurer receiving a payment request over an open network from a provider input device, the payment request including the provider identifier, an input device identifier and a payment amount;
- the insurer processing the payment request including determining if the provider identifier exists in a provider reference table and is associated with the input device identifier;
- the insurer transmitting an exception message to the input device if the provider identifier does not exist in the provider reference table or if the provider identifier is not associated with the input device identifier;
- the insurer approving the payment request if the provider identifier exists in the provider reference table and is associated with the input device identifier;
- the insurer initiating payment to an account associated with the provider card, the provider card being at least one of a credit card, debit card, stored value card and smart card;
- and
- the insurer charging an interchange fee to a merchant acquirer when the provider card is used for a financial transaction.
Dependencies are inferred from the claim text.